According to the News, Espada is proposing to freeze rents for tenants of rent-stabilized units with incomes of less than $45,000 who are paying more than a third of their monthly income in rent. He’s proposing to do that with tax exemptions for participating landlords which he estimates will amount to $77 million in the first year. And he’s planning to find that money by allowing landlords who want out of the program to refund J-51 tax breaks from previous years.

Espada’s Bronx constituents, among the poorest in the city, might fail to notice this wrinkle. It’s almost certain it occurred to Espada, the former Chair of the Senate Housing Committee. It’s a lock it’s occurred to his great and good friends from the Rent Stabilization Association, the main trade association for owners of rent stabilized properties, on whose behalf he spiked legislation which would have made it more difficult to remove properties from regulation last year.

It takes nads to offer to pull your constituents’ security away in an election year, but not nearly as much as it does to spin it as a favor.